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2 posts from May 2013

21 May 2013

Evolve or die: workplace flexibility and the next generation

PwC’s NextGen: A global generational study, which was conducted in conjunction with the University of Southern California and the London Business School, represents the most ambitious research into the Millennial generation, or ‘Generation Y’. The study included responses from 44,000 employees throughout PwC’s global network of professional service firms, with almost one quarter of the responses coming from Millennials.

This two-year research undertaking finds that the Millennial generation, those born between 1980 and 1995, seek more workplace flexibility, better balance between their work and home life, and opportunity for overseas assignments as keys to greater job satisfaction.

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The research study both confirmed and dispelled stereotypes about Millennials.  While younger workers are more tech savvy, globally focused, and willing to share information, the study found they did not feel more entitled or less committed than their older, non-Millennial counterparts, and are willing to work just as hard.  The global survey also found that many of the Millennials' attitudes are consistently shared by their more senior colleagues.

The study sought to measure factors relating to workplace retention, loyalty and job satisfaction. It compared responses among Millennials to those of non-Millennials at the same stage of their careers to assess generational differences between the two sets of employees.

There are a number of key lessons at the heart of the PwC NextGen study findings. 

When-you-were-bornMillennial employees want greater flexibility…and so does everyone else.

Millennials and non-Millennials alike want the option to shift their work hours to accommodate their own schedules and are interested in working outside the office where they can stay connected by way of technology. Employees across all generations also say they would be willing to forego some pay and delay promotions in exchange for reducing their hours.

Millennials put a premium on work/life balance.

Unlike past generations, who put an emphasis on their careers and worked well beyond a 40-hour work week in the hope of rising to higher-paying positions later on, Millennials are not convinced that such early career sacrifices are worth the potential rewards. A balance between their personal and work lives is more important to them.

These findings are important for business leaders who need to understand, and diversity practitioners who need to deliver, the business case for diversity.  For too long flexibility and work/life balance have been associated with female talent.  This NextGen research report does more than dispel stereotypes related to the Millennial generation, it also goes some way towards dispelling some gender stereotypes. 

Flexibility is not just about women; for Millennials, it is a talent wide imperative.  In fact, the study finds that given the opportunity, 64% of Millennials and 66% of non-Millennials would like to occasionally work from home, and 66% of Millennials and 64% of non-Millennials would like the option to occasionally shift their work hours.  15% of all male employees and 21% of all female employees say they would give up some of their pay and slow the pace of promotion in exchange for working fewer hours.  What is critical here is that work/life balance is more important to a much broader subset of Millennials – Millennial women and Millennial men. 

Likewise, work/life balance, while more important to the Millennial generation, is valued by non-Millenials as well; in fact, 71% of Millennials vs. 63% of non-Millennials say that their work demands significantly interfere with their personal lives.

When leadership and organisations understand that flexibility and work/life balance are not just Millennial- or women-focused challenges, but are indeed about everyone, and begin to consider them with strategies and policies targeted at the whole talent population, then we will continue to see a shift toward more truly diverse and inclusive work cultures and organisations.  

So please, let’s start talk about flexibility and work/life balance as a talent wide proposition! Find out more on the PwC’s NextGen Study at http://www.pwc.com/gx/en/hr-management-services/publications/nextgen-study.jhtml.

Aoife

09 May 2013

How the light gets in

We had a phone call from The Institute of Arts and Ideas (IAI) recently and we have to admit, they were not a body we would have intuitively linked with our strategic efforts here in PwC on diversity.  However, reading their brand statement ‘realising the potential of the 21st century intellectual landscape’ gave us pause for thought; as part of our diversity strategy is undoubtedly about realising the potential of our PwC intellectual and talent landscape.  

So it turns out, some of their team are avid readers of our Gender Agenda blog (which is always nice to hear) and they wanted to bring our attention to their upcoming How the Light Gets In festival, which it turns out it is the world's largest philosophy and music festival, and appears to have a wonderfully eclectic programme of thought-provoking debates, music, and comedy. 

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As diversity practitioners we keep ourselves informed of current research, legislation, best practice and dialogue on all things diversity. 

This festival made us think we need to start thinking in more broad and diverse terms as to how we keep abreast of developments in such areas beyond our usual sources.   So when Zoe Willox Dunant of the IAI encouraged us to look at the programme for How the Light Gets In festival because she thought some of it may be of interest to us, we couldn’t have agreed more. 

The programme includes a number of relevant philosophy sessions: The World after Men, Revolutionary Women, More than Equal, After Feminism, United in Difference.  And one that particularly piqued our interest entitled Thinking Differently

This Thinking Differently debate brings together a diverse mix of experts including Scottish feminist linguist Deborah Cameron, feminist psychologist Carol Gilligan and Cambridge philosopher Simon Blackburn as they embark upon a quest for new ways of thinking.

A rather enticing session description is outlined…

Thinking differently
Have we made a mistake in the way we think? Some believe our very language and thought are inherently male, and that this is a serious shortcoming. Can we create a new way of thinking that is not masculine, and as a consequence create a new world, or is this a misguided fantasy?

…which already has us thinking. 

Encouraging new ways of thinking is part of our role.  We aim to get leadership, management, the whole talent population of our organisations to think in new and different ways, including thinking about diversity itself differently.  To understand that diversity is a business issue with a clear business case, and harness the creativity and innovation of our workforce.

The importance of language and thinking differently was at the crux of Dennis Nally’s recent PwC CEO Insight’s blog entitled Stop talking about diversity.  Dennis shares why he believes that discussing diversity implicitly  at the global level (as opposed to explicitly) will sustain momentum in the face of uncertain markets and help tap into talent.

One thing is for sure: just thinking about ‘thinking differently’ in itself is a positive step.  Be that through broadening the scope of our subject matter sources on diversity, or through evoking new ways of thinking about diversity in our leaders and peers.

We can’t wait to see how these fascinating philosophy sessions take form at How the Light Gets In festival, which runs from 23 May-2 June. 

For those who can’t attend, the IAI will make the philosophy sessions available on line at http://iai.tv/ - we’ll be sure to let you know when, so that we can all tune in. 

Aoife